Buy and hodl, just don’t get #rekt: The slang that gets you taken seriously as a bitcoin trader

I came across this funny article about crypto slang today. So if you hear terms like Bagholders, HODL and Rekt don't be is what they mean:

Hodl — To stay invested in bitcoin and not to capitulate in the face of plunging prices. It was established by a cri de cœur issued during the great bitcoin crash of 2013: “I AM HODLING” a post on Bitcointalk screamed.

Bear — From Wall Street lingo: a trader who believes prices will fall.

Whale — From casino parlance: a trader with a fat account, usually one who is bullish on the price of bitcoin.

BearWhale — By extension, a big-time trader who is bearish on the price of bitcoin. A BearWhale is a dangerous creature because he/she/it tries to sell large quantities of bitcoin on the open market, lowering the price for everyone else. The only known sighting of one in the wild occurred on October 2014 on the Slovenian Bitstamp exchange. The BearWhale was trying to unload 30,000 bitcoins in a single order—at the time worth over $9 million, and today $26 million—for $300 apiece, well under the mid-$300 range that bitcoin was trading for at the time.
The result was a sudden but temporary flattening of the bitcoin price. It was temporary because hodlers and whales assembled to soak up the BearWhale’s coins, successfully slaying it. This event was commemorated with artwork of the battle, such as the picture below.

The slaying of bear whale

Rekt — Borrowed from online gaming slang, to mean utterly destroyed or ruined. One trader on r/bitcoin put out this this elegiac call after one of bitcoin’s many crashes: “MOMENT OF SILENCE FOR ALL OF THOSE #REKT ON MARGIN CALLS”

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George Zervos

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